{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-275228","form_type":"8-K","ticker":"PBT","cik":"0000319654","company_name":"PERMIAN BASIN ROYALTY TRUST","filed_at":"2026-06-18T14:50:29+00:00","discovered_at":"2026-06-18T14:51:00.250977+00:00","generated_at":"2026-06-18T14:51:14.395943+00:00","sec_items":["2.02","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Permian Basin Trust declares $0.024673/unit; SoftVest proposes business combination with Blackbeard Holdings","bullets":["Cash distribution of $0.024673/unit payable July 15, 2026 to holders of record June 30, 2026; no proceeds from Waddell Ranch due to excess costs.","Texas Royalty Properties contributed $1,285,932 to distribution; oil volumes 14,577 bbls at $88.42/bbl, gas 6,972 Mcf at $9.50/Mcf.","SoftVest and Blackbeard Holdings have preliminary non-binding term sheet for business combination forming New PubCo; Trustee not involved.","Proposed deal would require approval of majority of Trust unitholders; Trustee anticipates unitholder meeting."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-275228","json":"https://secwatch.observer/filing/0001193125-26-275228.json","markdown":"https://secwatch.observer/filing/0001193125-26-275228.md","text":"https://secwatch.observer/filing/0001193125-26-275228.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/319654/000119312526275228/0001193125-26-275228-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/319654/000119312526275228/2026-06_permian_basin_8-.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T14:51:14.395943+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}